Maximize Your Finances With Home Equity Loan Secrets

How to Maximize Your Home Equity

To maximize the benefits of a home equity loan, it's crucial to understand the factors that affect your ability to borrow:

• Loan-to-Value Ratio (LTV): Lenders typically allow you to borrow up to 80-85% of your home's appraised value, minus any existing mortgage balance³.
• Credit Score: A higher credit score can secure better interest rates and loan terms. It's advisable to check and improve your credit score before applying.
• Income and Employment Stability: Lenders assess your ability to repay the loan based on your income and employment history.